All Forum Posts by: Account Closed

Looks like I am moving to Syracuse (where I am originally from). But I never really "lived" there so I'm not too familiar with the neighborhoods of the city and what the less risky ones would be to invest in. I am thinking south if the city- the Valley area. Any suggestions? Also I'll be living with my parents for a while to save up money and have some time to learn the syracuse market. Most of the houses' I've seen are in the 60-80,000 range. Are these good prices for a decent rental in the city? Also does anyone have a good idea of comparing the Rochester Market to the Syrqcuse Market? I've always seen Syracuse as more of a "blue collar" city and Rochester as a "white collar" city.Thanks!

There is also an area in Rochester called the "south wedge" which you could find a decent property for around 50k but again I recommend really figuring out the best small niches in each area of the city. Some of the areas to look for in the city would bethe Monroe Ave area, Park Ave, South Wedge, North Winton/Browncroft, Corn Hill and maybe a couple more I am missing? There are def. Some good areas in the city, just need some patience in getting a good deal in those areas!

Living in Rochester myself, the sub 50k homes are usually in the riskier parts of the city. East Rochester might have a few in that price range, but from what I've seen a good deal in the "rentable" areas with lower risk would be closer to 70-90k. If you go for a sub 50k I would def. Suggest hiring a property manager.... Rochester is a very hit or miss city... One street is good the next street over has 3-5 homicides a year. Good luck! I'd like to hear what others in the area think about Rochester as an investment city for out of towners.

I regret it now, and I am thinking of doing it again (10 months is a long time I feel!) but I enrolled with HSBC last year. Well the 1st month in HSBC was bought out my Key Bank and First Niagra. The banker/mortgage person was well aware of this and said once the bank switches over, my account will too and my payments will still automatically go to the new account. Well month 4 rolls around and I decided to check my account. No new money had been deposited (I should have checked it earlier I know, but I trusted the bank: Life lesson #384... Don't trust the bank haha).Well I contacted the bank and was like WTF and come to find out whoever was in charge of my account never transfered my account over (by this time in 6Months in)... End of it all I had to start the whole process over (paper work and all) and I said forget it! And havn't done anything with it sence. Kinda long story, but there it is. Haha

Has anyone gone through the First Time Homebuyers Club program in Upstate New York? I am thinking of going through it again... Long story but I pulled out of the program last year. There are a few counties involved, I know Rochester and Syracuse Counties are involved.

What are people's opinions on purchasing historic homes? Living in Upstate NY there are a good amount of historical homes (particularly brick) and I think it would be great to have some in a portfolio. What are some issues that come with these homes? Is the brick a large issue? I figure it would be higher maintenance. Are they more of a headache than it's worth? Thanks!

Are there any good forum post or blogs on finding a good deal versus a cheap property? I feel like there has to be, but sadly searching "deal" or "cheap" comes up with a ton of forums! Is it pretty much just a numbers game and location? Or is there a defining factor which sets apart cheap from good deal? Thanks!

Thanks all for the responses! I figured FFREIA is the way to go, I was planning on going this month but I've been sick! Hopefully I'll catch a meeting next month. I saw the meetings were cancelled for a few months? Are they back on?

I would like to get a mentor or someone I can follow to really know the ropes of real estate investing so I went to Craigslist! Under real estate jobs they had a few REI apprenticeships ... One company called National Real Estate Investing Group... They give their phone # and say to text them your full name and email for more info. They had the same post within the past month in a few other cities on the east coast. has anyone ever gone through one of these companies? It looks like it's a part time gig and they show you the ropes and eventually go 50/50 commission with you.

How would you invest it in real estate? I am looking for longest and most secure way to use $20,000 in real estate to have the most "bang for my buck". I'd like to buy and hold... But do I buy a lower priced house at $40,000 or less, fix it up and rent it out or do I use it as a 20% down, or maybe split it up for 2-4 houses with only $5,000 down on each one. It would be for my first house and I know how important it is for the first house to Be successful!